Xiaomi’s Mi band that sells for around Rs 999, accounted for 27.1% of the shipments in India, making it the top vendor during Q1 2016, according data compiled by IDC. In terms of unit shipments, Xiaomi and GOQii together contributed to over 45% share, while Fitbit bands had maximum market value share, added IDC. GOQii wearbles closely followed Xiaomi taking the second position with 18.1% share, and Fitbit devices accounted for 6.2% share in terms of shipments.
Interestingly, the report said that smart watches have not yet gained enough momentum in the market because of their higher prices, however fitness bands like Mi Band, GOQii, Garmin VivoFit , etc. accounted for a major 87.7% of shipments in India during Q1 2016. Smart watches like the Apple Watch, Moto 360, Samsung Gear, etc. accounted the rest 12.3% in the same quarter, while the first two positions among smart watch shipments were grabbed by Samsung and Motorola; the global leader Apple stood third. In total, the entire wearable market in India shipped just over 400,000 units in the first quarter of 2016, added IDC.
Most wearbles are sold online: The most preferred channel for vendors during Q1 2016 was online through e-commerce portals, according to IDC. It added that a shift towards offline channels is increasing as more customers are looking to physically feel and test out the product before purchase. Fitbit and Apple were the only brands that were widely sold in physical stores; other brands had either limited or no offline presence.
“The popularity of wearable devices is restricted to urban sectors with relatively higher disposable income. Since online platforms are immensely popular in this segment, nearly three-quarter of the sales happened through leading online retailers. However, to expand the reach, an increasing number of brands are taking up the offline channel, especially though major large format retail (LFR) outlets,” added the report.
– Samsung’s Gear S2 helped the vendor secure a leading position among smart wearable brand this quarter. It managed to secured 4th position overall with 2.5% market share, and 1st in the smart wearable category, with a 20.4% market share.
– Motorola’s second-generation Moto 360 device aided the company to secure 1.4% market share overall, and over 11.5% percent market share among the smart watch category.
–Globally, the entire wearable industry shipped 19.7 million units in Q1 2016, an increase of 67.2% from the 11.8 million units shipped in Q1 2015. Fitbit held the 1st position worldwide with 24.5% market share (4.8 million units); Xiaomi secured 2nd position with 19% share (3.7 million units); and Apple captured 7.5% (1.5 million units) of the global wearable market.